AX Trader is a Forex robot that claims to have generated more than 100% profit in just 3 months. As per vendor claims, it can generate up to 39% profit every month. It is a fully automated system that can trade in six different currency pairs.
AX Trader is a product from the LeapFX team. This company is known for manufacturing robots like Easy Money X-Ray Robot, The Fund Trader, AutoArb, etc. We don’t know where this company is located or when it was founded. Also, the vendor has not provided any information on the developers and traders working for this company.
We can see that the vendor has made some tall claims about this EA, but we cannot simply trust their words. To determine whether this is truly a reliable system, we need to conduct a thorough analysis of its various performance aspects. This is where the importance of our review lies.
AX Trader has been trading live since April 01, 2021, so it has a pretty short trading history. According to the vendor, it can place accurately and trades on 6 different currency pairs with a high frequency. Whether the trades are accurate or not can only be found out after analyzing the live performance of the EA.
What is Behind the AX Trader EA?
AX Trader places trades in autopilot mode. You need to install the software on your MT4 platform, following which it opens, manages, and closes trades automatically. The only thing you need to do is to attach the EA to the charts for the relevant currency pairs. As per vendor recommendation, you should use the robot on a demo account first.
AX Trader works on pairs like USD/CHF, USD/JPY, USD/CAD, AUD/USD, GBP/USD, and EUR/USD. It has an in-built news detection technology that allows it to analyze important news releases related to the Forex market. The vendor provides you with customer support and an installation guide that will help you set the software up. For a standard account, you can start with a minimum balance of $1000.
AX Trader trades with the current trend and adjusts its entry points using Fibonacci calculations. The vendor does not elaborate further on the trading strategy, which is quite disappointing. The information provided is quite vague and we cannot possibly determine the nature of the trading strategy from this.
On the official website, the vendor has not shared the historical performance of the EA. Most experienced traders look for backtests since it gives them an idea about the long-term performance of the system. Therefore, this might deter many of them from investing.
The yearly membership plan for AX Trader costs $297, while the lifetime membership plan is priced at $497. This is too expensive for a new system with a short trading history. The vendor offers a 30-day money-back guarantee for this robot.
Trading Performance of AX Trader
This live trading account for AX Trader was launched on April 01, 2021, so it does not exactly have a long track record. In this short time period, the robot has placed 7058 trades, winning 79% out of them. As a result, it has generated a total profit of $8037.86.
At this moment, the daily and monthly profits for this account are 0.93% and 31.68%, respectively. The drawdown is incredibly high at 67.99%, and this indicates a risky trading strategy and a high chance of loss.
Taking a look at the trading history, we can see that the robot only earns very small profits for each trade. It seems to be following a scalping strategy that is not suitable for long-term traders.
For each customer, the vendor provides full customer support. However, they have not mentioned through which mediums the support is provided.
There are no user reviews for AX Trader on websites like Trustpilot, Forexpeacearmy, Quora, and Myfxbook. It is therefore evident that not many people are using this Forex EA as of now.